In recent years, spurred on, no doubt, by a heady cocktail of heavy catastrophe losses, loss creep from these losses, and ever greater worry about long-tail casualty risk finally starting to bite, the doom-mongers in the market have raised concerns about the reserve adequacy of some of the major carriers. ...
Over the past decade, as the impact of Solvency II capital requirements has become evident, continental insurers have warmed to the solutions offered by legacy providers. The established legal frameworks, with UK Part VII transfers just one example, have aided the expansion of the sector. Legacy companies and their clients ...
French insurance powerhouse Axa is considering selling its business units in Poland, the Czech Republic and Slovakia for as much as Eur800mn ($883.1mn).
The UK Financial Conduct Authority said it will take a proportionate and pragmatic approach to regulatory oversight on Brexit day and reiterated its warning that leaving the EU during the working week could pose “operational challenges for firms.”
The International Forum of Terrorism Risk (Re)Insurance Pools (IFTRIP) and the Geneva Association (GA) are launching a joint task force on cyber terrorism and cyber warfare.
Small and medium-sized enterprises (SME) increasingly require bespoke coverages to tackle non-damage business interruption (NDBI) losses experienced in the aftermath of a terrorist event, but insurers will need to better understand their clients if they are to meet the need, a conference has heard.
As the International Forum of Terrorism Risk (Re)Insurance Pools (IFTRIP) holds its annual conference in Brussels this week, The Insurer looks to the role that public sector partnerships can play in transferring risk for the world’s most costly threats.
MGA and Lloyd’s coverholder Aqueous Underwriting has entered a deal with QIC Europe, which will see the insurer provide £60mn ($74mn) capacity to the MGA over the next three years.
Danish hearing health care company Demant has estimated a financial impact of DKK550mn to DKK650mn ($88mn to $96mn) from a cyber attack last month after the recovery of DKK100mn ($15mn) from its insurance.
Tracking over the Azores Islands off the coast of Portugal, category 2 Hurricane Lorenzo is set to reach Northern Ireland at extratropical cyclone strength on Thursday afternoon.
It was an eventful first year for Gallagher UK CEO Simon Matson. Brexit, M&A, the FCA wholesale broking review, Lloyd’s transformation and, of course, the law courts were all competing for his time in addition to the day job of running one the UK’s largest intermediaries. Will it be a ...
UK insurer RSA has named Rachel Conran as permanent CEO of RSA Luxembourg, the office launched last year as part of its preparations for the UK’s exit from the European Union.
The £242mn ($298.2mn) acquisition of Legal & General’s (L&G) general insurance business by the UK arm of German powerhouse, Allianz, has been given the green light by the European Commission.
General Insurance Corporation (GIC) of India has set its sights on Russia and Brazil, as it looks to even out the ratio of domestic to foreign risks in its underwriting portfolio.
The Turkish Ministry of Treasury and Finance has unveiled a new reinsurer, Türk Reasürans AŞ, as the government looks to build out the country’s national insurance sector.
Talanx-owned HDI Global SE has appointed Thomas Stamm as chief underwriting officer for property and casualty (P&C) within its Swiss branch.
Travelers Insurance Company Limited has received approval to transfer in-force policies and historic liabilities written out of its European branches to its Dublin-based subsidiary, Travelers Insurance Designated Activity Company (Travelers Insurance DAC).
RSA Ireland has appointed Kevin Thompson chief executive of the business unit, replacing Ken Norgrove at the helm of the division.
Loss aggregation firm Perils has pegged property damage losses from extratropical cyclone Dragi-Eberhard at Eur772mn ($852mn).